The main characteristic of gambling is that you're expected to lose money in the long run, because of the casinos advantage (edge) that you mentioned. This is not true for cryptos, or at least not for Bitcoin, which, at least so far, tends to appreciate in value over the long term.
You could argue whether investing in Bitcoin is a zero-sum game (i.e., your profit is another man's loss). I'd say this is more true for short-term trading but not necessarily for long-term investing.
Topic: Is gambling with cryptocurrency the same as gambling at a casino? Differentiate - page 3. (Read 475 times)
October 31, 2024, 11:54:07 AM
October 31, 2024, 03:49:48 AM
You do not understand what trading is. That is why you are saying it is the same as gambling. Trading is not gambling but it is very risky just like gambling. Trading is trading. Gambling is gambling.
If it is about going to spot market to trade, that is trading. If you go to casino to gamble while playing some games, that is gambling.
If it is about going to spot market to trade, that is trading. If you go to casino to gamble while playing some games, that is gambling.
October 31, 2024, 02:54:45 AM
Cryptocurrency gambling can be seen as similar to gambling at a casino in the sense that both involve risking something of value in order to gain something else of value. You can be on the winning side today and on the losing side tomorrow too. However, here are some key differences between these gambling. Gambling games are games of chance where you could theoretically win or lose, but there is monetary value involved.
Gambling is based on chance, while cryptocurrency is based on mathematics/calculations and cryptography.
With gambling, you are betting against the casino house and board members, but with cryptocurrency you are betting against other people that have more or the same and similar amounts of money as you do.
In casino gambling there is usually a guaranteed win for them because they have an edge on their games while in crypto it requires strategies and skill to top up your game.
Gambling is based on chance, while cryptocurrency is based on mathematics/calculations and cryptography.
With gambling, you are betting against the casino house and board members, but with cryptocurrency you are betting against other people that have more or the same and similar amounts of money as you do.
In casino gambling there is usually a guaranteed win for them because they have an edge on their games while in crypto it requires strategies and skill to top up your game.
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